In today’s competitive job market, job seekers expect more than a good salary and a great company culture. They want to know that their employer is committed to providing them with quality benefits, from healthcare coverage to retirement plans. Therefore, employers should offer comprehensive benefits packages as part of their recruitment and retention strategies. There are many steps involved in setting up an employee benefits package, not to mention the management and upkeep of the plans. Trying to do it on your own can be daunting and time-consuming without the right help; that’s where Nesso Benefits comes in.
At Nesso Benefits, we’re a team of employee benefits professionals who specialize in designing comprehensive and cost-effective benefit solutions for businesses of all sizes. We understand the complexities of today’s benefits packages and how to effectively manage them, from initial enrollment to renewal and annual updates. We offer a full suite of services, so you can be sure that we’ll find the right plan to meet your needs. Please fill out our form today to schedule a consultation; we’ll connect you with one of our specialists as soon as possible. Get started today, and give your employees the required benefits to succeed.
Understand Employee Benefits
A benefits package is a list of perks and offerings that employers provide to their employees in addition to salary. The employer is responsible for deciding what to include in their benefits package, which can vary greatly depending on their industry and size. For example, a smaller business may offer essential healthcare coverage. A larger one may include more comprehensive benefits such as dental, vision, and hearing plans. Some benefits may have legal or tax implications, so you must understand your options before deciding.
Nesso Benefits can assist you in choosing the right employee benefits package for your company. With our personalized approach, we’ll evaluate your unique conditions and create a tailored package that suits them. We can explain the different types of benefits and advise you on what will work best for you and your employees. After reviewing each plan’s features and implications, we’ll ensure you comply with all relevant laws and regulations. Ultimately, our goal is to help you attract and retain the best talent while providing your team members a sense of security.
Our Medical Insurance for Groups of All Sizes
Health insurance is one of the most important components of an employee benefits package. The reason is that the US has some of the highest healthcare costs in the world, so having coverage can help protect team members from unexpected medical bills. At Nesso Benefits, we work with various health insurance providers to offer custom-made packages. We’ll assess your current plan (if you have one), determine what coverage is best for each team member, and negotiate lower rates on their behalf. Here are some of the health insurance plans we offer based on your company’s size:
Small Group Benefits
In most states, businesses with two to 50 employees qualify as “small groups” and are subject to special rules. Since the Affordable Care Act took effect, small group plans must include 10 essential health benefits and fit within one of the four “metal” tiers. In addition, you can’t charge older adults more than three times the rate of younger adults for their coverage. At Nesso Benefits, we can create a plan that meets all these criteria. We’ll ensure your small group has access to quality care.
Large Group Benefits
On the other hand, businesses with 51 or more employees are considered “large groups” and enjoy more leeway regarding their plan design. They can access a fully customizable range of benefits, including medical, dental, vision, and life insurance. Since you’re responsible for a larger pool of people, you must be mindful of your costs. At Nesso Benefits, we’re constantly looking for new ways to offer the best value to large groups. We leverage our relationships with health insurance providers to negotiate discounts and manage costs.
What Our Small and Large Group Plans Entail
Nesso Benefits prides itself on providing the highest level of service, so you can always count on us for assistance. We guarantee a hassle-free enrollment process and ongoing support throughout the life of your plan.
At Nesso Benefits, we empower team members to make better decisions. Through comprehensive training and educational materials, we’ll ensure your staff understands the features of their plan and how to make the most of it.
Work With Advisors, Not Agents
We don’t work with insurance agents just trying to make a sale. Instead, we use experienced advisors who can offer unbiased guidance. When you team up with us, you can be confident that we’ll always have your best interests at heart.
Our Self-Insured Programs
If you’re a larger business, you may want to consider self-insurance. Self-insurance is when a company directly assumes the financial risk of providing health benefits rather than paying a third party (an insurance company). This alternative can result in lower premiums and enhanced control over the plan design. However, it may also require more administrative work on your part.
At Nesso Benefits, we can help you evaluate the costs and benefits of self-insuring to determine if it’s right for you. If you decide to go this route, we’ll simplify the process, so you can focus on running your business.
What Our Self-Insured Programs Entail
Control And Transparency
Our self-funded options give employers more control and transparency. You’ll be able to see where every dollar is going, so you can make informed decisions about managing costs. If you worked with a traditional insurer, you wouldn’t have the same level of visibility.
With a self-insured plan, you can completely control and adjust the design as needed. For example, you may offer lower deductibles in exchange for higher premiums or vice versa. You can also choose to include additional benefits like vision and dental coverage. Whatever changes you decide to make, we can help you implement them quickly and efficiently.
Since you’ll be taking on a greater portion of the financial risk, you may find that self-insurance is more cost-effective in the long run. Instead of paying premiums to an insurance company, your money can go towards the direct care of your employees. You also won’t have to worry about hidden costs or paying for services you don’t require.
Nesso Ancillary Benefits
In addition to medical insurance, we offer a broad range of ancillary services that can enhance your coverage. Ancillary benefits are supplemental services that your team members can choose to purchase. Typically, employees pay for these benefits through payroll deductions, so they involve little to no additional cost and can provide more value to your plan. Remember that you’ll also gain a competitive edge over other businesses that don’t offer such services.
Ancillary Benefits We Offer
Short And Long-Term Disability Insurance
Short-term disability offers financial protection if your employees need to take a leave of absence due to illness or injury. The insurer will pay a percentage of the employee’s salary for a predetermined time, so your team members won’t have to worry about their income during this stressful period. Long-term disability works similarly but provides coverage for a more extended period.
Dental And Vision Plans
Good dental and vision care is essential, as these services can help prevent more severe health issues from developing. Both plans may cover the cost of routine checkups, exams, and treatments like braces or new glasses.
One of the most critical ancillary benefits is life insurance. This policy pays out a lump sum to the team member’s beneficiaries if they pass away while employed with your business. That way, their family can still be financially secure after their passing.
Our Voluntary Benefits
Voluntary benefits are secondary services typically not included in a standard package, like ancillary benefits. However, with a voluntary plan, employer contribution is optional. Consider using our voluntary benefits to give your employees more flexibility. They will have a broad range of group insurance options, which they can pay for with payroll deductions.
Voluntary Benefits We Offer
Critical Illness Insurance
Critical illness insurance pays out a lump sum if the team member is diagnosed with a severe health condition, like cancer or a heart attack. This benefit may be particularly valuable if many employees have a family history of these illnesses or if their job involves increased risk.
Accident insurance provides coverage for medical expenses and lost wages in the event of an accident. It can help employees pay for treatments, transportation to and from appointments, and other costs associated with recovery.
Hospital Indemnity Insurance
Hospital indemnity insurance compensates employees for each day they spend in the hospital. Since hospitalizations can be expensive and unexpected, this is an excellent way to provide financial security. The team members can use the money to cover their medical and daily living expenses.
Prioritize Health And Benefits in Your Business with Nesso Benefits
Health and benefit offerings are essential for attracting and retaining quality talent. Nesso Benefits in Milldale, CT, can help you create a comprehensive employee benefits package to keep your team members healthy and well-protected. We offer a range of medical, ancillary, and voluntary services tailored to the needs of our Milldale clients. Get in touch with the Nesso Group today for more information about our solutions. We continually help individuals and businesses succeed.